Van Cleef Asset Management Inc Trims Holdings in McCormick & Company, Incorporated $MKC

Van Cleef Asset Management Inc lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,756 shares of the company’s stock after selling 26,213 shares during the quarter. McCormick & Company, Incorporated comprises about 2.0% of Van Cleef Asset Management Inc’s holdings, making the stock its 14th largest position. Van Cleef Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $19,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rafferty Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after acquiring an additional 157 shares during the last quarter. Ransom Advisory Ltd increased its stake in shares of McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock valued at $315,000 after acquiring an additional 160 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of McCormick & Company, Incorporated by 3.0% during the 3rd quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock valued at $418,000 after acquiring an additional 181 shares during the last quarter. Modern Wealth Management LLC increased its stake in shares of McCormick & Company, Incorporated by 5.9% during the 2nd quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after acquiring an additional 181 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of McCormick & Company, Incorporated by 1.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 15,653 shares of the company’s stock valued at $1,066,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This represents a 220.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.0%

NYSE MKC opened at $47.82 on Monday. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. The company’s 50 day moving average price is $51.10 and its 200 day moving average price is $61.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.34 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $0.60 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 31.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MKC shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, March 30th. TD Cowen dropped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. HSBC dropped their price objective on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Sanford C. Bernstein dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Finally, BNP Paribas Exane dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.27.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.